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BTC dominance approaching all-time low
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Date: May 8th, 2018 8:05 PM Author: fighting new version ticket booth
BTC's market cap is still greater than the other top 5 coins combined. BTC dominance is a misleading metric as shitcoins continue to proliferate like wildfire (CMC now has over 1300 coins contributing to crypto's total market cap, LJL).
A more meaningful measure of BTC's dominance, IMO, is:
[BTC Market Cap] / [sum(Top 20 Market Cap)]
Would be interesting to see how that ratio has fluctuated over time, and where it stands now compared to historically
(http://www.autoadmit.com/thread.php?thread_id=3971914&forum_id=7#36010952) |
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Date: May 8th, 2018 8:30 PM Author: fighting new version ticket booth
Most of the shittiest shitcoins (think 300+ on CMC) don't have any actual "dollars" in them. Their market caps are entirely illusory.
For example, Unobtanium (UNO) has a market cap of over $26M, with a 24h volume of $5,000. LJL, a single whale trying to sell off a few thousand bucks of that shitcoin would probably cut the market cap in half.
The way CMC calculates BTC dominance though, all these fraudlies market caps count toward the total crypto market cap. As with all calculations: garbage in, garbage out. Confining the calculation to the top 20 limits the input to coins with actual liquidity (for the most part).
(http://www.autoadmit.com/thread.php?thread_id=3971914&forum_id=7#36011114) |
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